Cyprus: Bids In For Gas Import Tender

Cyprus has tendered to import up to 10bcm of gas. This indicates a grudging acceptance that near-term development of the island’s own reserves is unlikely.

Cyprus’ state gas company DEFA received four proposals on 14 April to supply natural gas for up to 10 years from January 2016 as well as provide the necessary import infrastructure.

The tender sought gas volumes rising from 19.5-30.4 trillion BTU in the first year to 25-43 trillion BTU by 2025 (see table). First gas is to be delivered between 1 January 2016 and 30 June 2017, with DEFA thought to favor bids that stipulate an earlier start date. (CONTINUED - 576 WORDS)